Zacks: Universal Stainless & Alloy Products (USAP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) have been given an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the company.

Zacks has also assigned Universal Stainless & Alloy Products an industry rank of 22 out of 265 based on the ratings given to related companies.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday. Rosenblatt Securities began coverage on Universal Stainless & Alloy Products in a research report on Wednesday, January 11th. They set a “buy” rating and a $19.00 price objective for the company. Finally, CL King raised shares of Universal Stainless & Alloy Products from a “neutral” rating to a “buy” rating in a report on Wednesday, January 25th.

Several hedge funds and other institutional investors have recently made changes to their positions in USAP. Thomson Horstmann & Bryant Inc. increased its position in shares of Universal Stainless & Alloy Products by 12.6% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 320,350 shares of the basic materials company’s stock worth $5,445,000 after buying an additional 35,900 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Universal Stainless & Alloy Products by 10.0% in the fourth quarter. Renaissance Technologies LLC now owns 48,800 shares of the basic materials company’s stock worth $659,000 after buying an additional 4,433 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Universal Stainless & Alloy Products during the fourth quarter worth approximately $349,000. 81.03% of the stock is owned by hedge funds and other institutional investors.

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) traded down 1.8640% during trading on Tuesday, hitting $16.6733. The stock had a trading volume of 6,615 shares. The stock’s 50-day moving average price is $15.35 and its 200 day moving average price is $13.82. The firm’s market capitalization is $120.30 million. Universal Stainless & Alloy Products has a 1-year low of $9.13 and a 1-year high of $17.83.

Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its quarterly earnings data on Wednesday, January 25th. The basic materials company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.15. The firm had revenue of $34.20 million for the quarter, compared to analysts’ expectations of $36.56 million. Universal Stainless & Alloy Products had a negative net margin of 3.46% and a negative return on equity of 2.65%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Universal Stainless & Alloy Products will post $0.13 earnings per share for the current year.

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Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels.

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